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Why are goal setting and company visions important for small businesses? I’m Logan Meaux, Founder and CEO of Mallard Bay. In Episode 7, covered in this blog, we discuss the foundational elements of growing a successful business, especially in the outfitting industry. Let me share some key insights from our conversation.

Starting with a Vision

At the heart of any successful business lies a clear and compelling vision. Defining what you want your business to look like in the future is crucial. This vision acts as a north star, helping you navigate daily operations and long-term strategies. For outfitters, this might mean envisioning a monopoly in a particular area or becoming known for exceptional service and experiences. Okay, that’s a great start, but how do you do this?

The Power of Writing It Down

One of the recurring themes in our podcast is the critical practice of writing down your goals and vision, which I’ve personally struggled with. Here’s why it’s essential. Documenting your ideas helps clarify and refine them, making it easier for you and everyone in the company to understand and work towards the same objectives. 

This practice transforms abstract ideas into concrete plans that can be communicated and executed. Not everyone can listen to you paint a picture of what you want it to look like and immediately get it. Some people struggle with this form of communication and visualization. It’s not good enough to just be able to visualize what you want and talk about it out loud. 

After all, you will likely change your mind, and without documentation of the original idea/vision, you may forget important decisions you’ve made along the way. Why is changing your mind a vital part of the process? 

Embracing Change and Adaptability

Change is inevitable, both in life and business. It’s necessary to be adaptable and revise your goals and strategies as circumstances evolve. This flexibility allows businesses to respond effectively to new challenges and opportunities, ensuring continued growth and relevance in the market. 

Resistance to change is the biggest business killer aside from ignorance in my opinion. Right up there with a lack of humility and disregard for the people around you and your effect on them as a leader. So, what can you control aside from your approach to change? 

Implementing EOS and OKRs

Much of our discussion revolves around the Entrepreneurial Operating System (EOS) and Objectives and Key Results (OKRs). These frameworks provide structure and clarity, helping businesses set ambitious, not easily achievable goals. These tools have been instrumental in aligning our team’s efforts and tracking their progress toward larger objectives. 

However daunting these systems may seem, there is no one-size-fits-all way to implement them quickly. They take time, focus, and consistent iteration to execute properly. If that’s the case what is one thing you could do to get started on the right track? 

Weekly Meetings: The Bedrock of Execution

One of the practical tips I shared is the importance of regular, structured meetings. Weekly leadership meetings, where priorities are set, issues are discussed, and action items are assigned, are crucial for maintaining focus and ensuring everyone is on the same page. This practice not only improves communication but also fosters accountability and swift problem-solving.

I would compare running a business without a weekly meeting to going out for a hunt without doing any scouting…NOT GONNA HELP! The first step is doing it weekly without fail at the same time on the same day. Start and end on time, NO EXCUSES. But how will this actually help make us more successful as a business? 

Measuring What Matters

Earlier, I introduced the concept of measuring key results to track progress toward objectives or OKRs. This approach ensures that efforts are directed towards impactful activities and helps identify and eliminate distractions. By focusing on what truly matters, businesses can make informed decisions and stay on course to achieve their long-term goals. 

For example, Objective: Improve Client Satisfaction. Key Result: Kill 1,000 birds per week this season. Answer the question, “If we accomplish this by 70% meaning we average 700 birds per week then will our clients be more satisfied?” Rince. Repeat. We’ll go deeper here over time, but do you get the point? You set an ambitious non-numbers-based objective and a numbers-based metric you can track that even if not 100% complete, you still accomplish the larger goal. 

The Impact on Team Morale and Performance

Garrett and I discussed how having a clear vision and structured approach has positively impacted our team’s morale and performance. When team members understand the larger goals and see how their daily tasks contribute to these goals, they feel more motivated and engaged. 

Celebrating milestones and successes further boosts morale and reinforces the importance of their contributions. What does this have to do with outfitting?

Practical Advice for Outfitters

Adopting these practices can lead to significant improvements in operations and growth for outfitters and similar businesses. Start with the basics: define your core values, set clear objectives, and use tools like EOS and OKRs to structure your operations. 

Regularly review and adapt your strategies, and ensure your team is aligned and motivated. What if I do it wrong? That’s not important, the important activity here is trying something new and being ok with doing it your way to get you started. 

Conclusion

Garrett and I shared insights that provide a roadmap for businesses looking to build a lasting legacy. By starting with a clear vision, writing down goals, embracing change, implementing structured systems, and maintaining regular communication, businesses can navigate the complexities of growth and achieve their long-term aspirations. 

Our goal is to change lives and perspectives, positively impacting both businesses and its stakeholders.

Stay tuned for more valuable discussions on the GuideTech podcast. Garrett and I continue to share our experiences and insights to help you grow and succeed in your entrepreneurial journey.

Best,

Logan

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